Bitcoin wasn't down. Hasn't had a single hour of downtime or hack since it started 15 years ago in 2008. No bank holidays. Clear and transparent supply, 100% open source code. Not run by any single government, corporate board, or CEO. Sends money across the globe in under a second for pennies in fees, all you need is a phone. Powerful stuff.
this post was submitted on 20 Jul 2024
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Privacy
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"under a second for pennies in fees"
LOL you either kidding yourself or had never transfer Bitcoin.
At a high demand time, it could take hours to complete a transaction (if it even went through at all) and with an outrageous fee up to dozens of dollars.
Bitcoin has never been known for time efficient nor competitive fees (except for maybe in the beginning when nobody uses it).
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There is so much wrong with that firehose of nonsense you just said I don't have time to correct it all. So I'll focus on this one point:
Bitcoin may not be run by "a single government" but it is run by a small group of billionaires. You're a fool if you believe widespread adoption of it can improve things for regular people.
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a couple years ago this happened in Canada. our banks use something called "interac" which is used on debit cards for payment. it went down. also a couple banks went down too. Happened on a Friday thus...payday. Many peoples direct deposits didn't go through or failed to show up. you couldn't buy anything at a store with your debit card regardless of who you banked with. couldn't even draw out cash from an ATM.
I’m not in favor of a cashless society but looking at how Apple and Google are pushing their wallets (and how practical it is) you guys need to come to piece with the fact that cash might die with the millennial generation. Most Gen X don’t have / want a physical wallet and money needs to be digital.
With that said, I believe this Crowdstrike fiasco just proved that the biggest threat to IT lies inside the companies themselves and on the managers who decide to use this kind malware without properly understanding the risks. Yes, I’ve said it and I’ll say it again Crowdstrike is malware, anything that messes with Windows at that level is malware, there’s no other description and shouldn’t be allowed by Microsoft to exist.
Im the Xer type with no smartphone and prefers the wallet. I remember so many shows or street people with paranoia would have the horror of government trackers but I find the horror of corporate trackers to be much worse and far to real now.
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Industry standard solution that protects companies against malware is malware? Any proper AV will have unrestricted access to system. Only other option is for companies to completely lock down your device.
Here’s the thing, malware protection is supposed to deliver protection and one important aspect of that is making sure there’s business continuity… what they did was to completely fuck over their customers in that aspect, they become the problem and I bet that most companies running their solution would never suffer any catastrophic failure this bad if they didn’t run their software at all. No hacker would be able to take down so many systems so fast and so hard.
Yes. It is.
Any system with this level of access to the system should be opensource and tested against actual workloads before shipping updates to prod.
Something like ebpf would make more sense too.
I carry cash and so do many of the younger people I know. It is handy sometimes and happens to be private.
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This is the best summary I could come up with:
Campaigners say the chaos caused by the global IT outage last week underlines the risk of moving towards a cashless society.
Supermarkets, banks, pubs, cafes, train stations and airports were all hit by the failure of Microsoft systems on Friday, leaving many unable to accept electronic payments.
The Payment Choice Alliance (PCA), which campaigns against the move towards a cashless society, lists 23 firms and groups, at least some of whose outlets take only credit or debit cards.
Cash payments increased for the first time in a decade last year, according to UK Finance, which represents banks.
The GMB Union said the outage reinforced what it had been saying for years: that “cash is a vital part of how our communities operate”.
In March, McDonald’s, Tesco, Sainsbury’s and Gregg’s suffered problems with their payment systems.
The original article contains 416 words, the summary contains 135 words. Saved 68%. I'm a bot and I'm open source!